Kolibri Global Energy (KGEI) Update - Apr 17

[dan_s]

This is just "noise" caused by the delay in getting their audit completed. When they uplisted to Nasdaq they had to get a new public auditing firm. When a public company switched auditors it creates a lot of up-front work. Kolibri is a rather "simple" company, so it should not take the auditors much longer. I'm expecting Kolibri to report audited Q4 results by May 17th.
Kolibri should be reporting two new wells soon, the Nickel Hill 35-1H well spud on April 4th and will be followed by the rig sliding over to drill the Nickel Hill 35-2H well. The Company will have a 62.9% working interest in these wells, with a large integrated oil company participating with their ownership interest.

THOUSAND OAKS, Calif., April 17, 2024--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the "Company") is providing an update with respect to the management cease trade order ("MCTO") issued by the British Columbia Securities Commission (the "BCSC") on April 3, 2024, and as previously announced by the Company. The MCTO was issued by the BCSC in connection with the delay by the Company in filing its annual information form, annual audited financial statements, management's discussion and analysis and related officer certifications for the financial year ended December 31, 2023 (collectively, the "Annual Filings").

The Company is providing this status update in accordance with National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"). The Company expects to file the Annual Filings sooner than May 31, 2024. The Company will issue a news release once the Annual Filings have been filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the Company’s news release issued April 3, 2024, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil, gas and clean and sustainable energy. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI.